HB1227 modifies the calculation of the local tax cap in New Hampshire to include inflation, population changes, and new debt service.

HB1227 amends the calculation of the local tax cap in New Hampshire to incorporate inflation, population changes, and newly approved annual debt service. The new formula adjusts the base amount for the prior year's taxes, adding back any reductions from fund balances and including new debt service once repayment begins. This change applies to tax caps adopted before the act's effective date without requiring local amendment or re-adoption.

HB1227 modifies the calculation of the local tax cap in New Hampshire to include inflation, population changes, and new debt service.

HB1227 amends the calculation of the local tax cap in New Hampshire to incorporate inflation, population changes, and newly approved annual debt service. The new formula adjusts the base amount for the prior year's taxes, adding back any reductions from fund balances and including new debt service once repayment begins. This change applies to tax caps adopted before the act's effective date without requiring local amendment or re-adoption.